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Business

US inflation at new 40-year high as price increases spread

WASHINGTON (AP) — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a year earlier, faster than April’s ...

Gas prices close in on $5 a gallon in U.S., hit record in UK

DALLAS (AP) — The average price that Americans pay for gasoline is closing in on $5 a gallon, another drain on the wallets of consumers who are paying more for many other essentials too. AAA said the nationwide average for regular on Thursday was $4.97 a gallon, up a quarter in just the ...

PG&E pledges net-zero emissions by 2040 and will keep using gas

SACRAMENTO, Calif. (AP) — The nation’s largest utility on Wednesday outlined a multi-decade plan that aims to more rapidly reduce to zero its net greenhouse gas emissions while still using natural gas to produce power. Pacific Gas & Electric’s plan is to take more carbon out of the ...

Digital currencies flow to campaigns, but state rules vary

For congressional candidate Shrina Kurani, cryptocurrency is not only the future of money, it’s a transformative technology that could revolutionize campaign funding and attract a new generation of voters. She is among a vanguard of candidates courting campaign contributions in digital ...

Inflation divide: The wealthy splurge, the poorest pull back

NEW YORK (AP) — Americans at the low end of the income rung are once again struggling to make ends meet. A confluence of factors — the expiration of federal stimulus checks and surging inflation on staples like gas and food — are driving an even bigger wedge between the haves and ...

Stocks shake off a wobbly start, end higher

NEW YORK (AP) — Stocks on Wall Street overcame a shaky start to close broadly higher Thursday, as the major indexes more than made up for their losses earlier in the holiday-shortened week. The S&P 500 rose 1.8%, with more than 85% of the stocks in the benchmark index notching gains. ...